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Psychology of Forex Trading

naiza
Dec 22 2016 at 13:54
36 posts
Monnex posted:
Forex Psychology: If you want to profit from your trading don't do 7 mistakes

1- Trade too much

2- Risk too much

3- Thinking too much

4- Reading too much news & analysis

5- Gambling

6- Trading without strategy

7- No money management



It seems that the theory of 'too much' is not favorable.

leopoldo (leopoldo)
Dec 25 2016 at 07:49
41 posts
PriceAction13 posted:
I don’t switch on my trading terminal directly without 15 minutes meditation! Honestly, this process helps me for being a successful Forex trader! I make prepare my neurons before opening my chart by meditation!


Interesting approach and technique with meditation. I am wondering if it needs to be that long or even few minutes are enough for meditating 😄

leopoldo (leopoldo)
Dec 25 2016 at 07:49
41 posts
naiza posted:
It seems that the theory of 'too much' is not favorable.


What do you mean by that?

jamess2
Dec 25 2016 at 08:34
29 posts
MMM, I doubt that meditation will serve much in the Affairs of business. I.e., is in the personality of the dealer. If it is a volatile person, who does not trace its earnings targets and does not work professionally, the meditation will not help you.

FxMasterGuru (FxMasterGuru)
Dec 25 2016 at 13:19
1607 posts
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. 😄

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
Monnex (Monnex)
Dec 25 2016 at 14:47
56 posts
Forex Psychology: Always think risk before reward

Monnex (Monnex)
Dec 25 2016 at 14:48
56 posts
Forex Psychology: Preserve your capital and don't run after ADS illusion that you will be millionaire with few dollars

Monnex (Monnex)
Dec 25 2016 at 14:48
56 posts
FxMasterGuru posted:
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. 😄


depends in your EA strategy :-)

FxMasterGuru (FxMasterGuru)
Dec 25 2016 at 17:27
1607 posts
Monnex posted:
FxMasterGuru posted:
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. 😄


depends in your EA strategy :-)


Yes, correct...

I meant it for successful manual strategies which are hard to implement - on larger investments - due to psychological factors.

I was very good at demo trading, mediocre with smaller funds and disastreous with larger investments. Moving to fully automated trading has solved all my problems. I have never looked back.

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
RPatell (RPatell)
Dec 27 2016 at 10:11
64 posts
FxMasterGuru posted:
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. 😄


I guess this is the case when there is no flash crash of the markets during that session. Maybe you sleep better in general but isn't it a stress with the need to update the robots settings regularly, and when they go wrong? I'm not expert on auto trading so I was just wondering about these aspects as well.

Knowledge is king!
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